[quote=briansd1]I think that the percentage of people who have mortgages is much higher in California in general and in expensive markets like San Diego.

I’m not expecting a tsunami, but a trickle, trickle, trickle of properties onto the market.

For all purposes, stagnation of house prices, plus inflation amount to the same thing.

A “real” recovery is not a slight increase from the depth of the recession, it’s a return to the peak and more.

If a property ladder climber put all his eggs in his house, and keeps on paying during the recession, even a return to previous peak won’t make him whole. He still has some way to go before recouping his “investment.”[/quote]

A real recovery is the market trading without the Fed, FHA and treasury making enormous contributions to keep the suckers swimming.